Foodservice distributor Sysco Corp. (NYSE:SYY), Houston, TX, reported sales for the fiscal third quarter ended March 28 of $11.7 billion, up 4.2 percent year-over-year. Profit decreased 2.2 percent to $177 million.
"Sales growth, while solid for the quarter at 4 percent, did moderate from our trends in the first half of the fiscal year primarily due to lower levels of inflation and a greater unfavorable impact from foreign exchange translation," said Bill DeLaney, president and CEO.
For the first nine months of the fiscal year, sales were $36.3 billion, up 6 percent over the prior-year period. Profit was $614 million, down 9.4 percent.